Nigeria Central Bank Sells Dollars At 306.30 Naira On Official Market


central bank of nigeria2 - Nigeria Central Bank Sells Dollars At 306.30 Naira On Official Market

The Central Bank of Nigeria (CBN) on Monday sold $1.5 million at 306.30 Naira per Dollar on the official market, after the bank said it would offer $100 million in currency forwards to boost liquidity.

The effects of the CBN intervention on the countries FOREX has been evident in recent weeks as the dollar to Naira exchange rate closed at 1 US Dollar to 385 Naira on Monday.

Speculators are waiting to see the long term effect of the Central Bank intervention.

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